Fidelity investments adds IQ ALPHA Hedge Strategy Fund to mutual fund platform

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May 5, 2009 9:02am ETF BASIC NEWS

fidelityThe IQ ALPHA Hedge Strategy Fund – the first no-load, open-end mutual fund to bring hedge fund-style investing to retail investors – has been added to the Fidelity Investments mutual fund platform.

The no-transaction fee Investor Class Fund is available through Fidelity Investments with a minimum required investment for first-time shareholders of USD2,500. The Institutional Class Fund is available with a minimum aggregated investment of USD250,000.

“The extraordinary market volatility investors have experienced serves to highlight the positive role alternative asset classes can play in providing portfolio diversification,” says Adam Patti, chief executive officer at IndexIQ. “Our goal is to make these strategies available to Registered Investment Advisors and retail investors through products that are transparent and cost-efficient. The addition of the IQ ALPHA Hedge Strategy Fund to the Fidelity Investments platform is a significant step forward in reaching this broader market.”

Full Story: http://www.hedgeweek.com/articles/detail.jsp?content_id=328442



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